Regulatory Alerts2020-01-01
Decision on Ensuring Strong Customer Authentication and Common and Secure Open Standards for Communication
The Council of the Central Bank of Montenegro issued this Decision to prescribe security requirements for payment service providers regarding strong customer authentication and secure communication standards. It mandates the implementation of transaction monitoring mechanisms, independent audits, and specific technical safeguards for authentication codes and dynamic linking. The document also defines exemptions from strong customer authentication for low-risk scenarios, including contactless payments, trusted beneficiaries, and transaction risk analysis.
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